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The restaurant industry is constantly witnessing major changes in technology. Smarter technological inventions are replacing traditional methods at restaurants. AI-driven technologies have been introduced in this sector after having carefully examined the customer behavior and their expectations over the years. To beat the massive competition that exists in the restaurant industry, restaurateurs need to invest wisely in technology.
Having an online presence that’s consistent, accessible, and engaging is one of the best ways for your restaurant to make a great first impression to prospective customers. Not convinced? Picture this: It’s a Sunday. You wake up, have a coffee, and decide that it’s a perfect day to go out for a nice brunch. You’re craving eggs benedict, and you want to go somewhere that’s well-reviewed, close to you, and not too busy.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
In our last post , we went over some of the successes and challenges of revenue management in the apartment rental business. We came up with a number of elements that we believe need to be applied to take revenue management to the next level. Horizontal Analysis vs. Vertical Analysis. Given that you can sell each apartment only once, there’s simply no solid way to measure pick-up accurately.
Have you ever had your credit card in front of you, wanting to make a travel reservation, but the website is painfully slow to load, or worse – it never loads at all? In the age of abundant options, most of us simply make that reservation on a competing website. Within a few minutes, one hotel can lose a booking while a competing hotel takes the booking – even if the price is higher!
We hear frequently how innovation is a mainstay for business survival and growth. Innovation helps restaurants stay competitive and those involved in operations and sourcing need to always be looking for the next thing that grabs attention, differentiates, and brings value to their patrons. So where is the first place we look for innovation? Usually it is product.
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We hear frequently how innovation is a mainstay for business survival and growth. Innovation helps restaurants stay competitive and those involved in operations and sourcing need to always be looking for the next thing that grabs attention, differentiates, and brings value to their patrons. So where is the first place we look for innovation? Usually it is product.
If you’re transitioning to a restaurant management position, congratulations! This is a great step up in your restaurant career, and one that 25% of all restaurant staff want to make. But with this new opportunity comes a new set of challenges, not the least of which is figuring out how to manage restaurant staff. There are certainly skills that will help you keep your staff engaged and your restaurant running smoothly, but some of what you need to know can only come from experience.
Plastic is one of the most utilized and revolutionary inventions of all times, but its waste has become a big issue for the environment. Because of the low production cost and versatility of applications, plastic is wide utilized in almost every type of industry. The world is now producing around 300 million tons of plastic per year. It pollutes the environment in general and about 8 million tons of waste are discarded into the oceans.
It has been a few years since Xotels is operating in Italy now. And we wanted to share some of our successes in terms of hotel revenue management strategies with you. Before entering into the market we were faced with the same hurdles as always. Owners and managers were concerned we did not know the market, and did not have first hand local experience.
Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.
Developing your employees is one of the best ways to both attract and retain top people in your industry. But some companies get so busy with the day-to-day running of their brand that they let employee training and improvement fall to the wayside. If your goal is to improve the overall service at your hotel or resort, creating world-class employees should be your first step in the journey.
Restaurants are increasingly reliant on self-service technology to improve the customer experience. From handheld or desktop tablets used to collect payment to kiosks used for self-service ordering, technology allows restaurants to provide a variety of options to customers to enhance their visit. However, it is incumbent upon restaurants to provide an accessible and equal experience for all their customers when utilizing these new technologies.
In a social media-heavy world, the visual appeal of a restaurant has become more important than ever. Instagram is now reshaping the way diners consume their food, and in return restaurants have changed to accommodate the need for “ Instagrammable ” experiences. Creating an Instagram marketing strategy for your restaurant is just a part of getting your business up and running.
So, you’ve finally managed to expand your kitchen and front of house teams – the next step is to get new servers up to speed on their roles. An effective way to do this is to use a restaurant training manual. A restaurant training manual (also referred to as restaurant employee handbook) lays the foundation for consistent results so that your staff is capable of delivering high-quality dining experiences whether they’re on the floor or in the kitchen.
Driven by a diverse and exciting ecosystem of passionate, ambitious, and often young entrepreneurs, the Food & Beverage (F&B) sector is a highly competitive environment full of immense challenges and exciting opportunities. Expert Market’s 2024 industry report, sponsored by Toast, is informed by a survey of 522 U.S. food and beverage professionals, from restaurant owners to food service managers, providing insights into the real-time challenges and opportunities within the industry.
Updated 17/04/2020: This post has been updated with latest Hotel Revenue Management Software for Small Hotels. A premium-quality of hotel management software is inevitable when you are in the hospitality business and wish to reap maximum benefits from your venture.
It’s a known fact that restaurants face some of the toughest competition in the business world. With an ever increasing number of options it’s becoming extremely difficult to convince new customers to try out your restaurant. The post TapMango Review: Customer Loyalty Program for Restaurants appeared first on Restaurant Den.
Responding to a quickly growing segment of the traveling population, the American Hotel & Lodging Educational Institute (AHLEI) has revised Elements of Service: Serving Guests with Disabilities , an online training program that teaches hospitality professionals how to provide superior guest service to guests with physical disabilities. “This subject is much more in the public eye than it was even in 2016 or 2017,” said Peter Slatin, a hotel consultant and co-designer of the program.
Finding the right general manager (GM) can be a challenging task, yet businesses that view investing in employees as an unnecessary expense often pay for it down the road. As a restaurant owner or operator, you understand the importance of finding the right GM. They are arguably the most important leaders in the restaurant industry, because they are the most closely connected to staff members and customers.
Managing HR tasks like payroll, compliance, and employee data can overwhelm small businesses. That’s where a Human Capital Management (HCM) solution comes in. Our eBook, Why Every Small Business Needs an HCM Solution: A Comprehensive Guide , shows how an HCM system automates tedious processes, ensuring your business stays compliant and efficient. You’ll learn how to simplify payroll, eliminate costly errors, and empower your employees with self-service tools.
Retaining employees is a major problem for the restaurant industry—with the annual employee turnover rate sitting at a staggering 73%, the average employee tenure is just one month and 26 days. Because employees come and go so quickly, it’s natural for restaurateurs to feel like they have to make quick hiring decisions to avoid lapses in service and quality.
Is your restaurant doing well and you feel like you are ready to expand your business, but not sure how? They are a lot of ways that you can do it and here at MBB Management we can help you develop a surefire plan for success. Check out this Need to Know Guide on Restaurant Expansion for Restaurants. Make It a Part of Your Business Plan. First things first, any plans for expansion should be thought through and put into your business plan even before you open your restaurant.
It shouldn’t come as a surprise to any employer in the U.S. that they must ensure proper completion of federal Form I-9 for each person they hire. Particularly for operators in the restaurant industry, who face high-volume hiring as a result of toxic turnover, it’s critically important to be diligent regarding employment eligibility to avoid penalties.
Dive into the transformative potential of business automation within the hospitality sector. This comprehensive overview showcases how innovative technologies can streamline operations, reduce costs, and elevate guest satisfaction. Discover the advantages of integrating systems like automated check-ins, CRM, and energy management to not only save on expenses but also to provide a seamless and personalized guest experience.
It's no surprise that as temperatures drop, restaurants often face increased rodent pressure as mice and rats look to find shelter for the winter. But this winter, pest management experts anticipate that there may be even greater rodent activity than usual. To protect your restaurant from mice and rat intrusions this season, now is the time to take action.
If you are reading this article you are one of the brave. Strong enough to take the risk and I commend you!, You may find yourself second guessing things about your venture like location, vendor selection and finding quality employees. One overlooked aspect of owning a successful restaurant, or any business in today’s modern age is an effective online presence and a quality website.
In this edition of MRM News Bites, we feature Ono Food Co, DoorDash, Parts Town and Heritage Foodservice, Rouxbe, Presto, Burger King and Uber Eats, Pared, Tork, Restaurant Technologies, Willie Degel, Bolay, Ritual, Preoday and TISSL, AdTheorent and Voodoo Doughnut. World’s First Mobile Restaurant Powered by Advanced Robotics. Ono Food Co. unveiled the world’s first mobile restaurant powered by robotic technology, top video and photo.
"A company’s culture is its soul. It will define the way employees interact with one another and guests and has the potential to reach far beyond offices to touch and affect lives. A compelling culture will help a company fulfill its vision, while negative cultures are incredibly harmful and will ultimately limit the level of success an organization can achieve." Retirement has not slowed down Dee Ann Turner at all.
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
If you are an entrepreneur in the process of opening a new restaurant, you know how crucial location is for your success. While choosing a location may appear to be simple, it is the unanticipated land use and zoning hurdles that can stand in your way. These land use and zoning obstacles can not only impact whether you can open a restaurant in your desired location, but may also increase several start-up costs in your business plan.
In restaurants, happy customers are crucial to the mission. This is not only true because happy customers become repeat customers, but it’s also true because happy customers leave good reviews. Online reviews can make or break a business, and patrons check the reviews before deciding to dine at your establishment. That’s not to say a few bad reviews are going to tank your business, though.
There’s no question that the restaurant delivery and reservations experience has become increasingly digitized in recent years, and there’s no sign of this trend slowing down in the future. At the current pace, you might even think that apps have replaced the more traditional processes for placing takeout orders, making reservations or asking menu questions, right?
Tips, tip credits and tip pools are staples in the restaurant industry. Restaurant employers utilize them daily. Earlier this month, the U.S. Department of Labor – the federal agency charged with enforcing the Fair Labor Standards Act (“FLSA”) – proposed a new Rule implementing certain provisions from recently enacted legislation amending the FLSA.
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
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